NZ govt posts small surplus in 7 mths to January as tax take swells

Tue, 10 Mar 2015

By Paul McBeth March 11 (BusinessDesk) - The New Zealand government posted a small operating surplus in the seven months through January as tax revenue beat expectations, while costs were smaller than anticipated. The operating balance before gains and losses was a surplus of $77 million in the seven months ended Jan. 31, compared to a forecast deficit of $635 million and better than the shortfall of $1.06 billion a year earlier, the Treasury said in a statement. That was due to a bigger than expected tax-take of $37.78 billion in the per...

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